Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 28, Problem 1PA
Sub part (a):
To determine
Calculation of adult population.
Sub part (b):
To determine
Calculation of labor force.
Sub part (c):
To determine
Calculation of labor force participation rate.
Sub part (d):
To determine
Calculation of unemployment rate.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
A country has a population of 160 million. Out of this population, the number of retired people is 23 million, the number of people below working age (under 16 years) is 39 million, and the number of people under different types of institutional care is 1.5 million. In this country, the number of the employed amount to 75 million people and the unemployed amount to 4 million people. Calculate the following and show your work
Working-age population
Unemployment rate
The economic activity rate
Employment rate
The accompanying table provides data on the size of the labour force and the number of unemployed workers for the provinces and territories of Canada.
Labour force (thousands) Unemployed (thousands)
Province/Territory January 2019 January 2020 January 2019 January 2020
Alberta 2,497.6 2,500.1 169.8 181.7
British Columbia 2,672.5 2,664.5 125.3 118.8
Manitoba 696.1 696.7 38.6 35.7
New Brunswick 387.0 390.1 31.4 29.2
Newfoundland and Labrador 262.2 252.5 29.9 30.0
Northwest Territories 23.0 22.6 1.9 1.9
Nova Scotia 499.2 504.5 33.6 37.2
Nunavut 16.5 15.9 2.4 2.1
Ontario 7,797.7 7,973.6 448.6 415.3
Prince Edward Island 83.6 86.8 8.0 6.5
Québec 4,547.1 4,597.2 242.9 232.7
Saskatchewan 610.9 617.5 34.1 37.3
Yukon 22.2 22.2 0.9 1.1
Data from: Statistics Canada.
Calculate the number of workers employed in each province and territory in January 2019 and in January 2020. Use your answer to calculate the change in the total number of workers employed between January 2019 and January 2020.
For…
The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your
percentages to two decimal places.
Category
Employed
Unemployed
Not in the labor force
What is the total labor force?
What is the labor force participation rate?
What is the unemployment rate?
Number of people
4505
452
591
Suppose 286 of the 452 unemployed people have been
unemployed for so long that they stop looking for work.
What is the new labor force?
What is the new labor force participation rate?
What is the new unemployment rate?
%
%
%
%
Chapter 28 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
Ch. 28.1 - Prob. 1QQCh. 28.2 - Prob. 2QQCh. 28.3 - Prob. 3QQCh. 28.4 - Prob. 4QQCh. 28.5 - Prob. 5QQCh. 28 - Prob. 1QRCh. 28 - Prob. 2QRCh. 28 - Prob. 3QRCh. 28 - Prob. 4QRCh. 28 - Prob. 5QR
Ch. 28 - Prob. 6QRCh. 28 - Prob. 7QRCh. 28 - Prob. 1QCMCCh. 28 - Using the numbers in the preceding question, what...Ch. 28 - Prob. 3QCMCCh. 28 - Prob. 4QCMCCh. 28 - Prob. 5QCMCCh. 28 - Prob. 6QCMCCh. 28 - Prob. 1PACh. 28 - Prob. 3PACh. 28 - Prob. 4PACh. 28 - Prob. 5PACh. 28 - Prob. 6PACh. 28 - Prob. 7PACh. 28 - Prob. 8PACh. 28 - Prob. 9PA
Knowledge Booster
Similar questions
- Fill in the missing values in the table of data collected in the household survey for December, 1996. The working-age population, employment, unemployment, and labor force are measured in thousands. Show your work. Working-age population Employment Unemployment Unemployment rate 5.4% Labor force 135,113 Labor force participation rate 67.0%arrow_forwardFill in the missing values in the table of data collected in the household survey for December, 1996. The working-age population, employment, unemployment, and labor force are measured in thousands. Show your work. Working age population: 235,900 employment: unemployment: unemployment rate: 9.4% labor force: labor force participation rate: 65.5%arrow_forwardZandaland is a country with a population of 110 million. Out of this population, the number of retired people is 14 million, the number of people below working age (under 16 years) is 20 million, and the number of people under different types of institutional care is 1 million. In this country, employment amount to 55 million people and unemployment amount to 3 million people. Calculate the following and show your work: Working-age population Unemployment rate The economic activity rate Employment ratearrow_forward
- What is the difference between being unemployed and being out of the labor force? How do you calculate the unemployment rate? How do you calculate the labor force participation rate? What is the difference between inflation and deflation? Identify several parties likely to be helped and hurt by inflation.arrow_forwardCounting the unemployed? We could measure the extent of unemployment by a count (the number of people who are unemployed) or by giving a rate (the percentage of the labor force that is unemployed). The number of people in the labor force grew from 107 million in 1980, to 126 million in 1990, to 143 million in 2000, to 154 million at the end of 2007. Use these facts to explain why the count of unemployed people is not a valid measure of the extent of unemployment.arrow_forwardSuppose that the adult population is 210 million, and there are 130 million who are employed, and the unemployment rate is 7%. Calculate the labor force participation ratearrow_forward
- The following scenarios have been taken from actual answers to the Current Population Survey conducted by the Bureau of Labor Statistics. In each case classify the individual as either employed, unemployed, or not in the labor force. 1. Walter White was laid off several months ago. He gave up looking for work and has not looked for two months.arrow_forwardThe table gives information about a nation's labor force. What is the labor force participation rate? The labor force participation rate is _____ percent. Labor Market Data Not in labor force 70.0 million Labor force 142.6 million Employed 136.9 millionarrow_forwardPLEASE HELP ANSWER THIS QUESTIONarrow_forward
- The population (age 16 and over) of Pageland is 150 million; 11 million are unemployed, and 89 million hold jobs. What are the rates of unemployment and labor force participation of Pageland? Unemployment is 7 percent, and labor force participation is 88 percent. Unemployment is 7 percent, and labor force participation is 72 percent. Unemployment is 11 percent, and labor force participation is 66 percent. Unemployment is 11 percent, and labor force participation is 89 percent.arrow_forwardHow is the unemployment rate calculated? Describe the three principal types of unemployment.arrow_forwardwhat is the unemployment rate of this economy of six people?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning